Draconian Cash Controls Are Coming To Francehttp://www.businessinsider.com/draconian-cash-controls-are-coming-to-france-2013-2/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Fri, 18 Aug 2017 02:02:46 -0400Wolf Richterhttp://www.businessinsider.com/c/511cd560ecad04bf68000013socThu, 14 Feb 2013 07:15:28 -0500http://www.businessinsider.com/c/511cd560ecad04bf68000013
I agree with fithing massive fraud wich is often induced by political commitment(what a joke),but by implementing such ridicules messeares ,common people who dont commit fraud will also reduce their spending behavior,in France it's common that people pay with checks wich is hugely time consuming and contraproductive,imagine a cue in a grocery shop were people pay with checks for often paying very small bills ,it takes at least 5 times longer than paying with cash but they are used to this blatant error system. France is already in recession,expect the politicians to destroy more consumption by implementing ridicules rules,taxation in France is already not sustainable,the rich ones run away and most citizens are quiet poor,I know French people who refused the inherritance of a property because of the high taxes and lack of value of most of French property caused by a political hindrance wich avoids to develop the backwater that France in general stands for,hot spots excluded,but even there one can expect a total collapse of houseprices when the rich answer with their feet. I know that the French are hugely indoctrinated to obey to all kind of childly rules ,and because of their common negligence they believe in the system by agreeing with messeares that hit other people but ignore the fact that they will become the biggest victem.http://www.businessinsider.com/c/511c471decad049d5d000016newworldorderWed, 13 Feb 2013 21:08:29 -0500http://www.businessinsider.com/c/511c471decad049d5d000016
That is a nice one. Bear in mind that almost all the ex-colonies in Africa were never real paying propositions and eventually the accountants at HQ got all the colonies dumped. Most went into severe decline from which only a few may emerge from crushing poverty. Printing huge bills was the least of their problems or the least of their incompetencies. After WW1 the Austro Hungarian Empire and Imperial Government was destroyed entirely igniting hyperinflation there first. Germany followed shortly after AH in the aftermath of defeat while violence and chaos spread through the Russian and Ottoman Empires. It is a terrible policy to engage in unlimited money printing then lose the war. Germany repeated the same policy before and during WW2 with the Nazi occupied areas exploding with inflation towards the end of that war though this is less noted.
No one knows what the outcome will be looking forward from today but none of the commonly suggested models demonstrating hyperinflation are really suitable since the noted economies were completely devastated by defeat and revolution.
The relevant point is what would be the optimal levels of inflation at any given time in the USA. Current headline numbers are soft and 10% inflation with the ZIRP would clear zeroes off the debt if people really need to see that for emotional reasons.http://www.businessinsider.com/c/511c1fb1eab8eab27000000eblack swanWed, 13 Feb 2013 18:20:17 -0500http://www.businessinsider.com/c/511c1fb1eab8eab27000000e
Something like this, for instance?
<a href="http://www.zazzle.com/100_trillion_dollar_bill_zimbabwe_magnet-147471247874006358" target="_blank" rel="nofollow" >http://www.zazzle.com/100_trillion_dollar_bill_zimbabwe_magnet-147471247874006358</a>http://www.businessinsider.com/c/511c1aeaecad04db11000001newworldorderWed, 13 Feb 2013 17:59:54 -0500http://www.businessinsider.com/c/511c1aeaecad04db11000001
Cyber warfare is about to become a lot more kinetic for the practitioners as Pentagon recruiting ramps up so due process will be handled at opportune moments. Tremendous redundancy can be built into the system so accounts can be restored by the Bank or by the Fed.
Dollars are already markers for an abstract state of memory in a computer even if you do have a paper bill in your safety deposit. After this currency is withdrawn it will have primarily colector value. A fresh printing from the Dept of Engraving will be worth more than the face value once printing ceases.http://www.businessinsider.com/c/511c190469bedd642a00001anewworldorderWed, 13 Feb 2013 17:51:48 -0500http://www.businessinsider.com/c/511c190469bedd642a00001a
Naturally there will be many failures as you see. The idea will be to capture increasing percentages of all transactions over time as is happening now. The amount of actual cash in terms of paper bills being exchanged is very low vs. electronic transfers. All paper dollars and coins can be withdrawn gradually as well through the banks or declared to be no longer legal tender past a certain date. Your taxes must be paid in the legal tender, let us say a purely abstract electronic dollar so, over time transactions will converge on the legal tender.
That some people escape is not a systemic high priority only that the system moves toward complete closure.
Most people will be unable to pay in Gold or Silver because there is no way they can obtain it without spending E-dollars or mining. Scrap Silver and Gold goes to re minting and new jewelry and re enters the system identifiably as an item that can be accounted for.
The easiest part is that there are only 315 million people in the USA and that is not a significant number of files for a computer system nor is the total global population of 8 billion.
Congratulations are in order if you can evade the tolerances of the system.http://www.businessinsider.com/c/511c0966eab8eada44000001krypticWed, 13 Feb 2013 16:45:10 -0500http://www.businessinsider.com/c/511c0966eab8eada44000001
In Europe, workers can move between different countries of the EU generally without restriction.http://www.businessinsider.com/c/511bfae46bb3f7543f000020imdwightgoodenWed, 13 Feb 2013 15:43:16 -0500http://www.businessinsider.com/c/511bfae46bb3f7543f000020
That will fail In a world w/PayPal, bitcoin, gold, silver, craigslist, the Internet, eBay and barter exchanges. I say "bring it"http://www.businessinsider.com/c/511bf895ecad04a14e000003black swanWed, 13 Feb 2013 15:33:25 -0500http://www.businessinsider.com/c/511bf895ecad04a14e000003
I, like almost every other American, have no cash in my bank accounts--only the word of my bank that there will be cash available for me when I come to the teller's window. A group of adroit off shore hackers could wipe out my savings, leaving me with nothing but the cash I have stored in a safe deposit box. So imagine what restrictions on tax transactions would do to me, or any other citizen whose accounts have been hacked. Count on governments to always have enough funds to build new roads to serfdom for their citizens.http://www.businessinsider.com/c/511bf37869bedda04e000012john1066Wed, 13 Feb 2013 15:11:36 -0500http://www.businessinsider.com/c/511bf37869bedda04e000012
The US will also stop it for taxes among other things.
The point is I was answering the original posters comments.
Now when it comes to what they are aiming to stop it's true it's mainly money from narcotics etc but if I show you a dollar please tell me all the places it has been.
Now I did start the whole post with "Depending on the currency controls".
most countries have some type of currency controls in place (narcotics etc) and those can be expanded to include more.http://www.businessinsider.com/c/511bf373ecad048a4300000cnewworldorderWed, 13 Feb 2013 15:11:31 -0500http://www.businessinsider.com/c/511bf373ecad048a4300000c
Ultimately we eliminate all paper bills and coins in order to establish glass clear financial transparency. Soon you will have no bills to convert to make payments with for any purpose.
People simply turn in all cash for electronic credit then proceed on the basis of card or phone based exchange.http://www.businessinsider.com/c/511beec469beddb945000004You misunderestimatedWed, 13 Feb 2013 14:51:32 -0500http://www.businessinsider.com/c/511beec469beddb945000004
The article is about cash controls intended to stamp out undocumented (ie untaxed) transactions. The author pretends that this will cause problems and advances a weak argument.
You bring up currency import/export controls intended to prevent narcotics, weapons and human trafficking (probably not related to tax evasion). The controls are completely separate with different intentions, not sure why you bothered to pipe in with your example.http://www.businessinsider.com/c/511be84feab8eaa273000014john1066Wed, 13 Feb 2013 14:23:59 -0500http://www.businessinsider.com/c/511be84feab8eaa273000014
Again "Depending on the currency controls".
"Also, i am not sure why someone would take a cashier's check over a border as it can not be deposited or negotiated in most foreign countries."
Taking the original posters comment at face value.
Any other questions?http://www.businessinsider.com/c/511be75669beddb93400000aThats not trueWed, 13 Feb 2013 14:19:50 -0500http://www.businessinsider.com/c/511be75669beddb93400000a
If you declare it, you can take it anywhere except Cuba, North Korea and Iran.
Also, i am not sure why someone would take a cashier's check over a border as it can not be deposited or negotiated in most foreign countries. If it is deposited, it takes 30 days to clear, I have tried it with a regular check to see what would happen. A wire transfer would he normal for non weapons or narco purchases internationally.http://www.businessinsider.com/c/511be64869bedded3100000cjohn1066Wed, 13 Feb 2013 14:15:20 -0500http://www.businessinsider.com/c/511be64869bedded3100000c
Depending on the currency controls taking a undeclared chashier's check for say $10,000 or over over a border could land you in jail.
The US does that now.
It's smuggling and countries come down very hard on folks found to be doing it.http://www.businessinsider.com/c/511be47069bedd882900001byo yoWed, 13 Feb 2013 14:07:28 -0500http://www.businessinsider.com/c/511be47069bedd882900001b
when France goes down the European Union will follow that war in Mali probably isn't helping the causehttp://www.businessinsider.com/c/511be4296bb3f77718000001john1066Wed, 13 Feb 2013 14:06:17 -0500http://www.businessinsider.com/c/511be4296bb3f77718000001
It's odd how money can flow freely from one country to another but workers cannot.
Now how can the ultra wealthy use their money to lean against a "misbehaving" country?http://www.businessinsider.com/c/511be3c269bedd7929000003This guy's a foolWed, 13 Feb 2013 14:04:34 -0500http://www.businessinsider.com/c/511be3c269bedd7929000003
Has this guy ever heard of a cashier's check? I am not supporting restrictive cash controls, but this article sounds like it was written by a 12 year old. People have to pay and it is inconvenient, but the number of cash payments over $1,000 a normal person makes each decade is pretty limited.